What are Gambling Duties?
Gambling duties refers to sums paid on casino-made gambling or gaming profits and is usually specific or unique to the country in which the profit is made.
A form of business tax, there are many different types of gambling duty, and what you pay depends on the services you offer. So, the term Gambling Duty actually encompasses Gaming Duty, General Betting Duty, Bingo Duty, Remote Betting Duty, and Pool Betting Duty, among others.
The range varies from casino to casino, but the rate typically depends on gross gaming yield.
Gambling Duties Explained
As noted in the paragraph above, the term Gambling Duties simply means the duty that is paid on gambling or gaming profits made by casinos. It is paid on total takings by gaming on the premises. This will include bets made by the players and gambling charges such as those paid for taking part in poker tournaments.
Gambling duty applies to both casino gaming and illegally offered gaming. However, it does not apply to “dutiable machine game play.”
If you or your company operate an online casino or any other form of Internet-based gambling and are not liable to pay gaming duty, you will be required to pay Remote Gaming Duty instead. This will be applied to any form of gambling offered to people in the United Kingdom from offshore.
When it comes to rate of Gambling Duty or Remote Gaming Duty, the typical range is between 15% and 50% in the U.K. However, the exact amount that a company or individual offering these services will be charged depends on the gross gaming yield during one accounting period.
If your casino, online casino, or other such gambling establishment attempts to or successfully manages to evade paying Gambling Duties, expect legal action to be taken against your company.